Progress of power and renewable energy market in Egypt:
investment opportunities and challenges
RES4Africa with this webinar aims at presenting the current renewable energy situation in Egypt gathering the international private sector, the international companies and relevant Egyptian stakeholders in order to identify priorities to foster the renewable energy development.
As one of the most populous and fastest-growing nations in Africa, with a population of more than 100 million, Egypt has prioritized providing electricity to all citizens. To ensure continuous security and stability of energy supply the country has launched the 2035 Integrated Sustainable Energy Strategy (ISES), which aims to set up the development of the country’s renewable energy and energy efficiency.ù
In Egypt, the price of electricity produced by renewable projects has been steadily decreasing across the past several years to become more competitive than conventional fossil fuel sources. This has created strong demand in Egypt from commercial and industrial heavy electricity consumers to have access to electricity from private renewable energy producers. Rising demand, the falling cost of renewable energy and the discovery of new natural gas sources though have allowed Egypt to become an exporter of gas as it diversifies its energy mix to include more renewables. The country targets to generate 20 percent renewables in electricity generation by 2022 and to reach 42 percent by 2035.
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